Sales of new and re-sale single-family homes were down for the third straight year during the first quarter in Schaumburg. The neighborhood was one of a majority of areas around Chicago to see a further drop in sales during the first quarter.
According to data from the Chicago Association of Realtors, a total of just 37 single-family homes were sold in the neighborhood during the first quarter, down from 59 units sold during the same period last year. It was well off the high of 95 units sold during the first quarter in 2003.
Meanwhile, homeowners saw yet another rise in the average time it takes to find a buyer in the neighborhood. If you’re selling your home in Schaumburg, it will now take you an average of 181 days to find a buyer. Just two years ago it took 80 days to sell your home in the neighborhood.
With rising number of unsold homes sitting on the market longer, it’s no surprise that the average sales price fell during the first quarter. Prices were off by 7 percent for single-family homes in Schaumburg. Buyers could continue to see even lower prices for Chicago Homes For Sale in the neighborhood.
Technorati Tags: Chicago Homes For Sale, Chicago Real Estate, Schaumburg Homes For Sale
